AquaBounty Sells Out the First Commercial-Scale Harvest of Genetically Engineered Atlantic Salmon from its Indiana Farm
May 10 2021 - 04:05PM
AquaBounty Technologies, Inc. (Nasdaq: AQB) (“AquaBounty” or the
“Company”), a land-based aquaculture company utilizing technology
to enhance productivity and sustainability, today announced that
purchase orders have been received for the planned harvest of 5
metric tons of its genetically engineered (GE) Atlantic salmon. The
first harvest is scheduled to be conducted at the end of May from
the Company’s Indiana farm. The Company will continue to ramp
production to its full capacity throughout the year. AquaBounty is
the first and only company in the world to raise and market a GE
Atlantic salmon approved by the U.S. Food and Drug Administration
(FDA) and Health Canada.
AquaBounty pioneered a sustainable and efficient way to meet
today’s seafood demand using genetic engineering. The benefits of a
one-time trait modification accomplished over three decades ago
continue today through conventional breeding and spawning methods.
The thirty-year journey to market included two decades of
regulatory review culminating in FDA approval in 2015 and Health
Canada approval in 2016.
AquaBounty’s GE Atlantic salmon reach harvest weight faster and
more efficiently than Atlantic salmon grown in sea cages. Raised in
land-based recirculating aquaculture systems (RAS) where the
feeding cycle and growing environment are optimized, AquaBounty can
produce up to 70 percent more fresh salmon annually compared to
conventional Atlantic salmon grown in the same period under the
same conditions. The benefit is a fresh, healthy protein that is
produced more efficiently and feeds more people, which is good for
consumers and the planet.
“I’m proud to see AquaBounty reach this important milestone
using science and technology to provide sustainable seafood for a
growing population,” said AquaBounty CEO Sylvia Wulf. “Our
land-based aquaculture technology allows us to bring to market a
healthy protein source. By raising our fish in freshwater from
hatch to harvest, we offer an Atlantic salmon with a fresh, mild
taste that consumers will enjoy.”
Raised in freshwater farms in America’s heartland in Albany,
Indiana and in Rollo Bay, Prince Edward Island, Canada,
AquaBounty’s salmon are free of antibiotics and ocean contaminants.
Controlling the growing environment prevents exposure to parasites
and pathogens that can lead to disease. AquaBounty’s fish swim and
school naturally under the watchful eyes of carefully trained and
experienced team members.
Wild salmon fisheries face increasing challenges to their
habitat and their health. By locating salmon farming operations on
land and following strict bio-security measures with multiple
layers of containment that prevent escapes, AquaBounty helps
protect wild salmon populations and native fisheries that are so
important to Indigenous communities and others.
“The AquaBounty strategy for facility design and operation is
driven by important considerations for the health of salmon,” said
Wulf. “Our goal is to provide a delicious salmon that is produced
in a secure and sustainable manner and raised right here in the
United States.”
Customer and Culinary Support for AquaBounty
Salmon:
“We have received very positive interest from a variety of
customers representing seafood distributors, food service operators
and retailers and are thrilled that the first harvest is already
fully committed. It is gratifying to see that our customer partners
understand the many benefits AquaBounty’s Atlantic salmon provide,
and that they embrace technology that will bring more food to more
people in a cost effective and sustainable manner,” said Wulf.
“AquaBounty’s sustainable land-based operations have a lower
carbon footprint with reduced transportation requirements than
Atlantic salmon that we import from other suppliers, and that’s
exactly what this industry needs to feed a growing population,”
said Joe Lasprogata, Vice President, New Product Development at
Samuels and Son Seafood Co., a Philadelphia-based seafood
distributor of AquaBounty’s Atlantic salmon. “AquaBounty’s
genetically engineered salmon is a reliable and efficient source of
salmon that is a product of the U.S.A., tastes delicious and looks
great. We can’t wait to share this with our customers.”
Chef Charlie Baggs, from Charlie Baggs Culinary Innovations and
serving as AquaBounty’s Executive Chef, commented, “AquaBounty’s
salmon represents a critically important solution to meeting
growing consumer demand and does so in a way that is sustainable.
Their Atlantic salmon provides foodservice operators and retailers
with salmon locally raised and harvested in the U.S.A, which is
good for the environment and their customers. After tasting the
product, the quality is excellent with firm texture, vibrant color
and a clean taste. I believe these positive attributes will drive
consumer purchases.”
About AquaBounty:
AquaBounty Technologies, Inc. (NASDAQ: AQB) is a leader in
aquaculture leveraging decades of technology expertise to deliver
game changing solutions that solve global problems, while improving
efficiency, sustainability and profitability. AquaBounty provides
fresh Atlantic salmon to nearby markets by raising its fish in
carefully monitored land-based fish farms through a safe, secure
and sustainable process. The Company’s land-based Recirculating
Aquaculture System (“RAS”) farms, located in Indiana, United States
and Prince Edward Island, Canada, are close to key consumption
markets and are designed to prevent disease and to include multiple
levels of fish containment to protect wild fish
populations. AquaBounty is raising nutritious salmon that is
free of antibiotics and other contaminants and provides a solution
resulting in a reduced carbon footprint and no risk of pollution to
marine ecosystems as compared to traditional sea-cage farming. For
more information on AquaBounty, please
visit www.aquabounty.com or follow us on Facebook, Twitter,
LinkedIn and Instagram.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. All statements other than statements of historical fact
contained in this release are forward-looking statements,
including, but not limited to, statements regarding purchase
orders, commitments and prospective agreements with customers;
anticipated growth in market size; anticipated productivity, the
expected benefits of AquAdvantage salmon and land-based production
to consumers and the environment, including consistency of supply,
disease- and antibiotic-free production, resource conservation, and
reduced carbon footprint; potential production capacity; and the
size and timing of future harvests. Forward-looking statements may
be identified with words such as “will,” “may,” “can,” “expect,”
“plan,” “anticipate,” “upcoming,” “believe,” “estimate,” or similar
terminology, and the negative of these terms. Forward-looking
statements are not promises or guarantees of future performance and
are subject to a variety of risks and uncertainties, many of which
are beyond our control, which could cause actual results to differ
materially from those contemplated in these forward-looking
statements. Forward-looking statements speak only as of the date
hereof, and, except as required by law, we undertake no obligation
to update or revise these forward-looking statements. For
additional information regarding these and other risks faced by us,
please refer to our public filings with the Securities and Exchange
Commission (“SEC”), available on the Investors section of our
website at www.aquabounty.com and on the SEC’s website
at www.sec.gov.
MEDIA CONTACT:John CurtisFahlgren
Mortine208-472-0595john.curtis@fahlgren.com
AquaBounty Technologies (NASDAQ:AQB)
Historical Stock Chart
From Feb 2024 to Mar 2024
AquaBounty Technologies (NASDAQ:AQB)
Historical Stock Chart
From Mar 2023 to Mar 2024